The Tri-Cities real estate market is moving well.
Market Trends Overview
- Seller’s Market: Limited inventory keeps sellers in control.
- Longer Days on Market: Homes in this range take longer to sell compared to lower price tiers.
- Stable Prices: Listing prices and final sale prices remain close, indicating buyers are willing to meet seller expectations.
Past 12 Months Trends
- Listings: An average of 0.86 new listings per day, totaling 314 listings for the year.
- Sales: 0.66 homes sold per day, with 239 total sales over 12 months.
- Pricing:
- Average listing price: $611,092
- Median listing price: $600,000
- Final sale prices averaged $593,438, with a median of $590,000.
- Days on Market: Homes took an average of 68 days to sell, with a median of 34 days.
- Buyer-Seller Scores:
- Buyer Score: 3.4 (slightly more balanced)
- Seller Score: 6.6 (still favors sellers)
Key Insight:
Homes in this range sell slightly slower, but prices remain strong, with minimal negotiation.
Year-to-Date (YTD) 2025
- Listings: 50 new homes have entered the market, averaging 1.3 per day.
- Sales: 33 homes sold, with 1.0 sales per day.
- Pricing:
- Average listing price: $602,408
- Median listing price: $599,450
- Final sale prices: Averaged $596,505, median $595,000.
- Days on Market: Homes sold in an average of 26 days, with a median of 18 days.
- Buyer-Seller Scores:
- Buyer Score: 1.6 (buyers have little power)
- Seller Score: 8.4 (strong seller advantage)
Key Insight:
The market is moving faster in 2025 than in the past year, with less time on the market for homes.
February 2025 (Last Full Month)
- Listings: 23 new homes hit the market (0.82 per day).
- Sales: 15 homes sold (0.54 per day).
- Pricing:
- Average listing price: $594,904
- Median listing price: $589,900
- Final sale prices: Averaged $593,252, median $585,000.
- Days on Market: Homes sold in an average of 11 days, with a median of 7 days.
- Buyer-Seller Scores:
- Buyer Score: 1.8 (buyers have limited power)
- Seller Score: 8.2 (still a seller’s market)
Key Insight:
February saw faster-moving homes, with homes selling in just over a week on average.
March 2025 (Current Month)
- Listings: 4 new homes listed so far.
- Sales: 4 homes sold.
- Pricing:
- Average listing price: $625,413
- Median listing price: $625,875
- Final sale prices: Averaged $597,375, median $597,000.
- Days on Market: 51 days average, median 41 days.
- Buyer-Seller Scores:
- Buyer Score: 1.1 (very low buyer power)
- Seller Score: 8.9 (very strong seller advantage)
Key Insight:
Homes are still selling well, but March has seen slightly longer selling times than in February.
Final Thoughts
- Sellers: The market remains in your favor, with high demand and strong sale prices.
- Buyers: Expect strong competition. Be prepared to offer near asking price to secure a home.
Thinking about buying or selling? Let’s connect today!